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ZAANDAM, The Netherlands - Ahold said it has reached agreement to sell two Hypernova hypermarkets in Poland to Carrefour Poland for an undisclosed sum. The agreement will take effect on Nov. 18, 2003.
The divestment of the stores is part of Ahold's overall strategic plan to restructure its portfolio and dispose of underperforming assets and operations.
The transfer of ownership of the hypermarkets -- located in the towns of Sosnowiec and Bydgoszcz -- is subject to a number of conditions, including anti-trust and other approvals.
All associates employed in the two hypermarkets will have their employment transferred to Carrefour Poland, according to Ahold.